The .NET Micro Framework at Microsoft have been hard at work and released an update for the V4 framework which supports Visual Studio 2010. Read more about it on the .NET Micro Framework Team Blog
The actual version supporting VS2010 is V4.1 and can be downloaded from http://download.microsoft.com/download/0/9/5/0958CB08-E209-4DFD-A945-9DA0FE64B3A4/SDK.zip
You will need updated versions of the SDK from the manufacturers of the hardware. Checkout Device Solutions Download page for the SDK and Firmware updates.